Showing posts with label B2B. Show all posts
Showing posts with label B2B. Show all posts

Monday, 26 October 2015

Getting the Most out of your One-to-One Networking Service

Invariably the primary or secondary reason that people will give for attending a business event is networking. The other main reason – and this varies from event to event – will be the educational content.

Delegate Select considers itself to be a world leader when it comes to facilitating networking at events. Over the past eight years, we have witnessed many very successful and some less successful implementations by our customers of our one-to-one networking solutions.

If I had to distil our accumulated learning into six simple lessons, they would be these:

1.  Make sure your service is visible and easy to access. Having a meeting service but not having easy access to it on your main event website generally means you are relying on people to find the link to the service in emails or text messages they may (or may not) have to hand. This is very wasteful.

2.  Profile your people correctly. Sometimes called demographics, profiling refers to the information you collect from registrants. You don’t need to ask registrants lots of questions, but you do need to get them to classify themselves in such a manner that they appear in the right result set when people make qualified searches for potential meeting partners. The best way to design your profiling categories is simply to put yourself in the position of another attendee and ask what you would really like to know about your fellow attendees. If you are running a two-group event – e.g. solution providers/delegates or exhibitors/visitors – then you should probably be profiling each group differently. You can collect profiling information for your own benefit too. This information does not have be searchable by other registrants. But I’d suggest you keep this to a minimum, such as one question like “How did you hear of the event?”

3.  In general, the longer lead time you can give people the more confirmed meetings you are likely to generate. However, there is a balance between lead time and having enough registrants on the system when the meeting service is opened to convey to users a sense that the event is going to be well attended. We have run our service at events where the one-to-one networking has actually fueled the desire to register, attend and arrange meetings – even to the extent that the ultimate constraint on the total number of meetings was the physical lack of meeting tables and time slots. This is not set in stone. We have also seen events where a good number of meetings were confirmed, even though the meeting service was opened only a few days before the event.

4.  Send follow-up communications to boost the number of confirmed meetings. This does not need to be a burden to you. Nor do you want to bombard your attendees with emails. Our administrative desktop, like some others on the market, allows you to easily segment your target audience and send personalized emails to them. You therefore might want to prepare brief template emails for the following groups of people in advance:

·     People who have received meeting requests, but have not yet gone to the system. Remind them to respond.

·     People who received the introductory email but not yet engaged with the system (and have not yet been invited to meetings). Just remind them that the system is there and give them an idea of the sort of companies and people with whom they could be meeting. Perhaps let them know how well some of their colleagues/competitors are doing in this regard!

·     You might also consider a third email to be sent to all registrants three or four days before the event, reminding them that the event is approaching and they should hurry up and make as many confirmed meetings as possible before then.

5.  If attendees do not have their own dedicated meeting place, have a meeting area with tables or booths that can be automatically allocated on a first-come, first-served basisWith two groups of attendees, it is likely that your solution providers or sponsors or exhibitors will have their own stand, pod or room. Their meetings should take place there. If your event permits peer-to-peer meetings among delegates, consider having an area called the “Meeting Zone” (or something similar) with numbered tables. Your meeting software should automatically take care of the allocation of tables and should not permit meetings to take place in a timeslot where there is no remaining meeting place (or vice-versa). Such a solution requires minimal or zero staffing prior to and during the event, because each attendee’s itinerary tells them, “You are meeting such and such a person, at such and such a time, at such and such a place.” An alternative is to let people meet at various meeting points during your event, but this is much less effective.
6.  Brand your solution to give it some exclusivityConsider branding the networking solution and, if you run more than one event, using that brand across all of them. Without giving away any secrets, one of our customers chose a brand that generated a real sense of exclusivity. When used in their marketing communications it has generated an enormous amount of participation, year after year.
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Delegate Select’s one-to-one networking solutions empower event producers with excellent opportunities to generate additional income along with valuable information about their registrants. We’re always happy to discuss these benefits with you and offer advice and suggestions about adding networking to your event.

Wednesday, 3 December 2014

The Compelling Logic of Hosted Buyer Programmes

Hosted Buyer Programmes are finally coming of age as a companion to B2B exhibitions and, for smaller gatherings where buyers and sellers come together, as events in their own right.
For exhibition organisers the logic is simple. You hold an exhibition with 300 exhibitors.  You bring 4,500 visitors. Of those, perhaps only one in ten might be considered a "power buyer" that many of your exhibitors would like to meet. Would it not therefore be highly desirable to set up quality appointments between your 300 exhibitors and those specific buyers? Certainly, most suppliers would willingly pay a premium for  15-20 guaranteed meetings with qualified corporate decision-makers.

While only a few exhibition organisers may be ready to replace their exhibitions with hosted buyers programmes, many are starting to run a hosted buyer programme alongside their traditional B2B exhibition. Until now, reticence in the events industry towards hosted buyer programmes has historically derived from two main concerns. First, a fear that any additional revenues or cost savings could be quickly consumed by the additional incentives needed to bring the appropriate buyers to the table; some organisers offer air travel, hotel accommodation and meals. Second, a concern that the work needed by event staff to arrange, schedule and consummate meetings is too burdensome.

I'm not an event organiser and therefore not qualified to contest the first concern. But my gut instinct is that buyers meet suppliers anyway and the opportunity to meet a lot of them in one place in a short period of time is very advantageous. If buyers are planning to come to an exhibition, then most would also participate in a well-organised hosted buyer programme without much prompting. Meanwhile some senior buyers who may not otherwise choose to attend an exhibition might actually be attracted by the opportunity to pre-schedule a full day of qualified appointments with suppliers. For the remainder, it's a cost-benefit judgement the organiser has to make on a case-by-case basis.

As a technology provider whose company has been providing sophisticated one-to-one meeting services to the event industry for over seven years , I do feel qualified to respond to the second concern. Let's start by noting that, with or without third-party technology, such companies as Marcus Evans, Richmond Events, the World Trade Group, Forum2Events and others have being generating healthy profits from exactly this format of event for many years now. Several  years ago, the CEO of one of these companies is alleged to have expressed surprise that he did not have more competitors. This is now changing.

Today, there are a lot of slick software solutions on the market that make it easy for event organisers to provide hosted buyer programmes at their events without a huge commitment of resources. Many software companies offer diary-based meeting solutions. One or two – Delegate Select being probably the first in 2008 – also offer wish list-based solutions to event organisers.

Diary Based Solutions
With the diary-based solutions, buyers and suppliers (exhibitors) profile themselves, telling each other what they are seeking or offering. Buyers arrange meetings with suppliers, choosing a mutually available time. If permitted by the organiser, suppliers send personalised invitations by email or SMS to buyers; the recipient confirms, declines or ignores the invitation.

Not all diary-based solutions are equal. It is worth checking whether the software provider's solution is able to:
·         Permit an exhibitor to hold multiple concurrent meetings and assign individual meetings to other members  of his/her team.
·         Permit a buyer with a confirmed meeting to invite a colleague who is also attending the event to join the meeting.
·         Provide all participants with a bespoke itinerary of their meetings.
·         Update buyers and exhibitors itineraries on their mobile device, i-pad or tablet in real time, should changes occur or new meetings be arranged at the event itself.

Some diary-based software solutions promise to arrange meetings using just the profiles of the two parties. While this may sound convenient, it is not recommended. There are many reasons why buyers and suppliers might not wish to meet.  History, personal relationships, or even the fact that two companies are already doing business may all come into play. Experience suggests that meetings arranged by software systems without direct or even indirect consent of both parties will likely result in a high number of unfulfilled meetings.

Wish-list Solution

With the wish-list solution, buyers and suppliers create online wish lists of who they would like to meet and, if permitted by the organiser, a handful of companies they wish to avoid. Participants arrange their wish lists in order of preference online. Following a cut-off date, the event organiser, at the touch of few buttons, can quickly confirm and schedule hundreds of meetings between the two parties. The organiser has the ability to over-ride or manually supplement the selections made by the system. Attendees end up with personalised itineraries that, to the greatest extent possible, reflect the preferences of both meeting partners.

Regardless of whether a diary or wish-list solution is used, organisers should be sure to check that the solution has been designed responsively and that all functionality is accessible on desk-top and mobile devices alike, without users having to download an app... because many will simply not bother.

Five years ago, the first time one of our wish-list solution clients ran the scheduling for her event, she called me up in tears. "I've just scheduled 800 meetings in less than five minutes. You've saved me three days of my life", she cried. We'd like to think that this is only a fraction of the time that has been saved cumulatively since then by bringing buyers and suppliers together in meetings they were both keen to attend.